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PBM Act

S. 1967 Sen. Robert Menendez (D-NJ) In committee
Bill text PDF
  1. Introduced Jun 14
  2. Committee Jun 14
  3. Passed Senate Next
  4. Passed House Not yet
  5. To President Not yet
  6. Law Not yet
Where it stands
In committee, Jun 14, 2023Next: Senate vote
1232d ago Jun 14, 2023: Read twice and referred to the Committee on Finance.
Final votes
No roll callsNo recorded vote on this bill yet
Lobbying
7companies, 8 filings
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Member trades
13trades in the last 90 days
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Companies lobbying on this bill

7 companies
Companies by sector
Biotech & Pharma 4Financials 2Consumer & Retail 1
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Summary

Patients Before Middlemen Act or the PBM Act

Full summary2 paragraphs

This bill prohibits pharmacy benefit managers (PBMs) under the Medicare prescription drug benefit or Medicare Advantage from receiving any income for their services other than bona fide service fees.

Specifically, PBMs may not receive any income other than flat, bona fide service fees that are specified in their contracts with prescription drug plan (PDP) sponsors. Such fees may not be based on drug prices, discounts, rebates, or any other remuneration. PBMs must turn over any excess amounts they receive to the Centers for Medicare & Medicaid Services. PDP sponsors and PBMs must annually certify their compliance with these requirements.

Library of Congress summary, Jun 14, 2023

Summary versions
  • Introduced in SenateJun 14, 2023

Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 28, 2026.